Korean Job Discussion Forums

[ChopChaeJoe]

Peaches don't hold their value long, but they sure are good, and a good worth my money.

So gold is good money because it holds it's value -- if you don't spend it. I guess from a hoarder's perspective that makes sense. However, in economics they teach that currency simply lubricates the wheels of exchange. If you aren't exchanging goods and services then your currency (whatever it may be) is simply useless.

A gold standard seems totally arbitary and favors only those with gold as opposed to the myriad of other resources (including human resources.) Fiat currency seems to make more sense when we consider how complex economies are today. They lose value, but as long as you are partaking in the economy you are benefiting.

So far, it's not surprising that the chief supporters of gold seem to be Idaho militia types who think the economy is about to go the way of the dodo. Guns and ammo would seem to be a similar store of value.

[mises]

[ChopChaeJoe]

So we're back to the Fed is evil because it's evil argument? I suppose gold is a good bet if you're unable to earn more money and you're suspicious of investing in some kind of enterprise.

My vote for worst president is either Harding or Grant, maybe the first Johnson.

[mises]

[ChopChaeJoe]

Unable to be convincing, we slip into ad hominim attacks...

[mises]

[Fox]

[mises]

[bucheon bum]

[Senior]

Mises, gold is easily divisible. You simply have a currency that is redeemable for gold. Which has been the case for much of history. That is how paper money got started after all.

If I were a bank, I would release a bank card that is denominated in gold. You use it just like a checking card except you pay in gold instead of dollars. The bank can then exchange it for dollars if the payee desires or they can debit it to their own gold account.

Unfortunately peaches wouldn't work that well as a medium of exchange as it would favor peach farmers.

[mises]

[Reggie]

I'll gladly sell food for gold! I would prefer silver or palladium, but gold is fine! I'll even take platinum, tin, rhodium, indium, or copper. If someone has tellurium, I would definitely like some because I don't have any of it and I want some.

[Illysook]

It's funny, but as I read up on things, I see history repeating itself over and over. Grover Cleveland was a democrat, but some of the famous quotes make him seem like a modern day republican or libertarian...but I digress, history has been meanest to the presidents to my home state, Ohio. All of them pretty much sucked and came into office due to Ohio's huge number of votes in the electorial college and the power therein.

The worst one was Warren G. Harding. He never even pretended to be qualified for the presidency and was nominated as "the best of the second-raters" when no one could agree on who to nominate. He then chose a cabinet of crooked cronies from what was known as "The Ohio Gang" and had a presidency riddled with corruption and scandal. The best known scandal was called "The Teapot Dome" scandal. It involved bribery, single-bid contracts, and kickbacks regarding the use of oil rich land that had been set aside in reserve for the needs of the U.S. Navy, thus jeopardizing national security.

[soakitincider]

Woodrow Wilson

[ChopChaeJoe]